As of June 2026, the Seefried Properties speculative campus in Elgin, Illinois, a two building Class A industrial development at the corner of Madeline Road and Alft Lane in Kane County, has progressed from active construction to a completed and partly leased project. Seefried Industrial Properties reached shell completion on the campus in March 2024, meeting the delivery window set at groundbreaking. The headline development came in February 2025, when the developer signed David C. Cook, a nonprofit Christian ministry with roughly 150 years of history, to a long term lease of 152,014 square feet at the larger building, now addressed as 1700 Madeline Lane. The ministry is using the space as the main distribution centre for its books and curricula divisions, relocating within the same submarket where it has operated since the 1880s. CBRE acted for the tenant while Cushman and Wakefield represented the landlord, a joint venture between Seefried and a United States based family office.

Smaller Elgin Building Sold to a Plastics Manufacturer

Ahead of the lease, Seefried had already monetised half of the campus. In February 2024 the firm sold the smaller 144,414 square foot building at 1705 Madeline Lane to a manufacturer of custom plastic moulded parts, though the parties did not disclose the price. Jason West and Doug Pilcher of Cushman and Wakefield represented Seefried in the sale, while Noel Liston of Core Industrial Realty acted for the buyer. That building offers a 32 foot clear height, nineteen dock doors, two drive in doors and 205 car parking stalls. The larger 1700 Madeline Lane building was delivered with a 36 foot clear height, 42 dock doors, two drive in doors and 259 car stalls, and was marketed as divisible down to 150,000 square feet.

Elgin Project Reflects a Cooling Chicago Industrial Market

The lease up has unfolded against a softer Chicago industrial backdrop than when the project broke ground. CommercialEdge data put the metro’s vacancy rate at 9.7 percent at the end of 2024, up about 570 basis points from a year earlier as supply delivered during the 2021 and 2022 building boom worked through the market. Even so, the Interstate 90 Golden Corridor where the campus sits remains one of the region’s most sought after logistics submarkets, helped by proximity to a population of 3.8 million within a 30 mile radius. The activity also fits a wider pattern of Illinois industrial investment that includes the recently completed $250 million Incobrasa soybean processing expansion in Gilman, underscoring how both logistics and manufacturing capital continue to flow into the state.

What Comes Next for the Seefried Elgin Campus

With the anchor tenant in place, about 168,932 square feet at 1700 Madeline Lane remained available for lease as of the most recent marketing update, and Seefried’s leasing team at Cushman and Wakefield continues to seek users for the balance. Filling that space is the main outstanding milestone for the campus, and the pace will hinge on how quickly the Chicago market absorbs the supply added in recent years.

Project Overview

• Project Name: Seefried Elgin Speculative Industrial Campus
• Location: Madeline Road and Alft Lane, addressed as 1700 and 1705 Madeline Lane, Elgin, Kane County, Illinois
• Developer/Owner: Seefried Industrial Properties, in a joint venture with a United States based family office on the 1700 building; the 1705 building sold to a custom plastic moulded parts manufacturer
• Total Cost/Value: Not disclosed
• Scale/Capacity: 465,360 square feet across two Class A buildings, of 320,946 square feet and 144,414 square feet
• Construction Start: Groundbreaking in July 2023
• Expected Completion: Shell completion reached in March 2024
• Funding/Financing: Privately financed, with a joint venture equity partner on the larger building
• Current Status: Completed, with one building sold, an anchor tenant leased in the other, and about 168,932 square feet still available
• Key Milestone: David C. Cook signed a 152,014 square foot long term lease at 1700 Madeline Lane in February 2025

Project Team

• Seefried Industrial Properties: Developer
• FCL Builders: General Contractor
• Harris Architects: Architect of Record
• Spaceco: Civil Engineer
• Cushman and Wakefield: Leasing, marketing and landlord representation, led by Jason West and Doug Pilcher
• CBRE: Tenant representation for David C. Cook, led by John Hamilton
• Core Industrial Realty: Buyer representation on the 1705 Madeline Lane sale, led by Noel Liston
• David C. Cook: Anchor tenant at 1700 Madeline Lane
• United States based family office: Joint venture equity partner on the 1700 building
• Custom plastic moulded parts manufacturer: Buyer of 1705 Madeline Lane

Reported 28th July 2023: Construction has begun on two new speculative facilities in Elgin, Illinois under Seefried Properties. In Q3 2024, the 465,360 square foot Class A campus is anticipated to be completed. The new project, which will consist of two buildings that total 465,360 square feet each, will be situated in Kane County at the southeast corner of Madeline Road and Alft Lane. Addtionally, the first structure will be 320,946 square feet and the second, 144,414 square feet.

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Pre-cast wall panel construction, clear heights between 32 and 36 feet, 185′ deep truck courts, a total of 236 trailer spaces, ESFR fire suppression systems and plenty of parking are all features of both buildings. Moreover, the project is adaptable and can accommodate users with needs ranging from 25,000 to 465,000 square feet. Furthermore, a full four way intersection at I90 and Randall Road is one mile south of the new construction. This puts 3.8 million people within a 30-mile drive of it. Lastly, the project is being advertised for sale or lease by the Illinois-based Cushman & Wakefield.

Teams working on the Seefried Properties speculative facilities

The general contractor is FCL Builders, the civil engineer is Spaceco, and the architect of record is Harris Architects. Furthermore, Cushman & Wakefield’s Jason West and Doug Pilcher oversaw the project’s leasing and marketing operations.

David Riefe, Senior Vice President of Seefried’s Midwest area, declared that the company was “extremely proud” of the most recent Chicago construction. “This development underlines Seefried’s ability to lead and navigate through more difficult market conditions to create lucrative investment possibilities. Further, we aggressively pursue new development prospects throughout the Midwest and anticipate the successful conclusion of this project.

Seefried Properties is a privately held real estate company that specialises in the development, leasing, and administration of industrial properties throughout the United States. It was founded in 1984 by Ferdinand Seefried.